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Area 01 Gaming issued 200,000 shares of $0.50 par common stock on Feburary 1 for $9.00 per share. On August 7, the company declared a

Area 01 Gaming issued 200,000 shares of $0.50 par common stock on Feburary 1 for $9.00 per share. On August 7, the company declared a 20% stock dividend when the market value of the shares was $11.00. How many shares were outstanding after the dividend?

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